Is Space Big Enough for Two Asteroid-Mining Companies?

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The latest company to launch into the asteroid-mining business
isn't worried about competition from its biggest rival, saying
that the resources of deep space are vast enough to support a
bustling new industry off Earth's surface.

The new company, Deep Space Industries, Inc., announced today
(Jan. 22) that it
plans to mine asteroids for metals, water and other
resources, with the goal of helping humanity spread throughout
the solar system. Another company with similar goals, the
billionaire-backed Planetary Resources, unveiled its own plans
last April.

Both companies can coexist and prosper, Deep Space officials said
during a press conference today.

Deep Space and Planetary Resources will go after near-Earth
asteroids, many of which are rich in water and a variety
of different metals.

Both firms aim to split asteroid water into its constituent
hydrogen and oxygen, which are the chief components of rocket
fuel. Asteroid-derived propellant could be dispensed from
off-planet "gas stations," allowing satellites and journeying
spacecraft to top up their tanks cheaply and efficiently.

Such off-Earth depots could extend the lives of satellites and
make manned trips to far-flung destinations like Mars much more
economically viable, advocates say.

The metals and other materials, meanwhile, could be used to
construct habitats, solar-power satellites and other spacecraft,
potentially jump-starting an in-space manufacturing industry.
Precious metals such as platinum and gold could also be delivered
to Earth for terrestrial use.

So far, astronomers have identified more than 9,000 near-Earth
asteroids, with about 1,000 being added to the rolls every year.
Such numbers suggest there are more than enough to keep two
mining companies busy for a long time, Deep Space officials said.

"There are two or three million near-Earth asteroids," said Deep
Space CEO David Gump. "There's room for everyone to prosper, I
think."

The startup of two asteroid-mining firms — along with the rise of
private spaceflight companies such as California-based SpaceX —
is a sign that humanity may finally be taking real steps toward
the long-held dream of permanent space settlement, Tumlinson
said.

"One company may be a fluke," he said. "Two companies showing up?
That's the beginning of an industry."